Trade Usages in ICC Arbitration
Fabien Gelinas (ed), Trade Usages and Implied Terms in the Age of Arbitration (Oxford University Press 2016)
22 Pages Posted: 13 Oct 2016
Date Written: October 6, 2016
Abstract
In this chapter’s analysis of ICC arbitral awards, two different interpretations of usages can be observed: on the one hand, the strict notion of a trade usage as a repeated practice; on the other, a broad notion of usage as encompassing both traditional trade usages and general principles of the law, distilled through the comparison of various legal systems. Noting the ability of usages to adapt quickly to societal changes, the chapter concludes that these two interpretations of usages seem to serve two different purposes: the restrictive interpretation serves to establish the meaning and content of the parties’ contract, while the broad interpretation ensures that the governing law is applied in a way that takes account of the international context in which the contract was made. Both interpretations contribute to a conception of usages as a set of general rules for international arbitration.
Keywords: Usages, ICC, international arbitration, scope of usage, general principles of law, flexibility
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